RECENT NEWS
Heitman, Lehman, Crow to Develop Industrial Park in Hungary
February 9, 2000 CHICAGO – Heitman International, Crow Holdings International, Lehman Brothers Inc. and Wallis Real Estate have formed a $70-million joint venture to develop an industrial park in Budapest, Hungary.The 2 million square-foot Harbor Park will be...
CB Investment Fund Might Offer Net-Leased Properties
February 9, 2000 CB Richard Ellis Investors, which manages a $500 million separate account that targets net-leased properties, could soon be looking to sell a portfolio of five retail properties and a distribution center that are leased to...
Marriott Seeking to Snare New Contracts in Thailand
February 9, 2000 Associated Press/ASIA WorldSources Inc.BANGKOK, Thailand – Ritz-Carlton and Renaissance, the two luxury hotel chains of the Marriott group, are conducting talks with local hotel property owners over the possibility of new management contracts, Ed Hubennette,...
U.S. Group to Buy Nationalized Japanese Bank
February 9, 2000 Associated PressTOKYO – A U.S.-led investment group signed a contract today to buy the nationalized Long-Term Credit Bank of Japan, a bank spokeswoman said. The consortium, led by New York-based Ripplewood Holdings, signed the deal...
CarrAmerica to Build Offices in Austin, Texas
February 9, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) is planning to build a 418,000-square-foot office building at Sixth Street and Guadalupe in downtown Austin, Texas. The 23-story building, 300 West Sixth Street, has already been 40 percent...
Equity Office Properties 4th-Qtr FFO $0.68/shr vs $0.61/shr
February 9, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $182.5 mln$159.5 mln $685.7 mln $597.1 mln FFO/shr (diluted) $0.68 $0.61 $2.57 $2.33 Extra Gain (Loss) -- -- ($10.5 mln) ($7.5 mln) Net Income $134.3 mln $88.9 mln $382.1 mln...
Marriott, Toll Brothers to Develop Assisted Living Properties
February 9, 2000 WASHINGTON – Marriott Senior Living Services, a division of Marriott International Inc. (NYSE:MAR), and Toll Brothers Inc. (NYSE:TOL) have partnered to develop and manage an assisted living community in Reston, Va.Marriott MapleRidge of Reston, to...
Keystone Property Trust 4th-Qtr FFO $0.47/shr vs $0.39/shr
February 9, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $11.1 mln$5.7 mln $32.8 mln $16.1 mln FFO/shr (diluted) $0.47 $0.40 $1.79 $1.35 Extra Gain (Loss) -- ($0.1 mln) -- ($0.1 mln) Net Income $1.2 mln $1.4 mln $6.3 mln...
On-Line Grocer Signs Warehouse Lease in N.J.
February 9, 2000 Associated PressNORTH BERGEN, N.J. – Hartz Mountain Industries Inc. has leased 348,000 square feet of warehouse space here to Webvan Inc., a San Francisco-based online grocer.Webvan signed a 10-year lease valued at more than $30...
Starwood Financial 4th-Qtr Loss -$0.80/shr vs $0.40/shr
February 9, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98Net (Loss) Income ($58.4 mln) $22 mln $15 mln $59 mln Net (Loss)/shr($0.80) $0.40 $0.25 $1.36 Revenue$89.5 mln $48.3 mln $264.8 mln $128.1 mln Shares outst.75.3 mln 55.2 mln 61.8 mln...
Grubb & Ellis Moves Into Hawaii Via Affiliation
February 9, 2000 NORTHBROOK, Ill. – Grubb & Ellis Co. (NYSE:GBE) has grabbed a toehold on the Hawaii market by entering into an affiliation with CBI Inc., a Honolulu real estate firm with strong ties to the Japanese...
Hotel Used by Press during Bush Presidency for Sale
February 9, 2000 Associated PressKENNEBUNKPORT, Maine – A hotel long used as a media center for reporters covering President Bush is up for sale. The Shawmut Ocean Resort & Conference Center is on the market for $8.5 million....
Kearny Real Estate Sells Beverly Hills Offices for $15 Mln
February 9, 2000 LOS ANGELES – Kearny Real Estate Co. has sold 6330 San Vicente Boulevard, a 100,000-square-foot office building in Beverly Hills for $15 million, or $150/sf.The five-story building was sold to Lexington Commercial Holdings of Beverly...
Chas E. Smith 4th-Qtr FFO $0.87/shr vs $0.79/shr
February 9, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $20.1 mln$16.9 mln $72.5 mln $58 mln FFO/shr (diluted) $0.87 $0.79 $3.23 $2.91 Extra Gain (Loss) -- ($11.7 mln) ($0.4 mln) ($16.4 mln) Net Income $46.6 mln $12 mln$82.2 mln...
REVISED PRICE TALK: Fannie Mae 2000-M1
February 9, 2000 By Thomas J. Walsh, IPGDirect.com Senior WriterPrice guidance on a $458 million commercial mortgage-backed securities deal from Fannie Mae, FNMA 2000-M1, was re-set today in response to changing swap spreads. New price talk – reflecting...
Goldman Sachs Shopping $112 Mln CMBS Floater, Sources Say
February 8, 2000 By Thomas J. Walsh, IPGDirect.com Senior WriterGoldman Sachs is leading a $112 million commercial mortgage-backed securities deal, according to Wall Street sources.The floating-rate transaction is said to be secured by a number of New York...
Canada Regional Digest
February 8, 2000 RONA's plan includes superstores in OntarioThe National Post, February 8TORONTO – RONA Inc. plans to open 27 big box home improvement stores across Ontario. The Quebec-based company unveiled its plans as it gave further details...
Insurance Firm Takes 7.22% Stake in BRE Properties
February 8, 2000 A unit of State Farm Mutual Insurance has purchased 3.2 million shares, or a 7.22 percent, stake in BRE Properties Inc. (NYSE:BRE). The company filed a Form SC 13G/A with the SEC.
Southeast Regional Digest
February 8, 2000 Owner of downtown building wants to keep PrudentialFlorida Times-Union, February 8JACKSONVILLE, Fla. – Representatives of a downtown building are requesting help from the city to keep Aetna-owned Prudential Health Care at 841 Prudential Drive rather...
Kilroy Realty 4th-Qtr FFO $0.65/shr vs $0.59/shr
February 8, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $20.9 mln$18.9 mln $80.6 mln $71.2 mln FFO/shr (diluted) $0.65 $0.59 $2.50 $2.30 Net Income $8.3 mln $10.2 mln $39.9 mln $38.8 mln Net/shr$0.30 $0.37 $1.44 $1.43 Revenue$42.6 mln $39.3...
Morgan Stanley Unit Takes Stakes in 3 More REITs
February 8, 2000 A unit of Morgan Stanley Dean Witter has started accumulating interests in real estate companies.The firm's mutual-fund operation, Morgan Stanley Dean Witter Investment Management Inc., had previously reported taking a 14.9 percent interest in Wellsford...
LTC Properties 4th-Qtr FFO $0.34/shr vs $0.43/shr
February 8, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $9.3 mln$12.2 mln $45.2 mln $47.6 mln FFO/shr (diluted) $0.34 $0.43 $1.64 $1.71 Net Income (Loss) ($9.3 mln) $8.5 mln $16.7 mln $37.7 mln Net (Loss)/shr($0.34) $0.30 $0.61 $1.39 Revenue$20.7...
Kennedy-Wilson Helps Retailer Assemble Land for Store
February 8, 2000 BELLEVUE, Wash. – Kennedy-Wilson Inc. (NASDAQ:KWIC) has completed assembling 18.4 acres of land in Ellensburg, Wash., that Fred Meyer Stores will use to construct a 128,000-square-foot store. The assemblage, which involved buying parcels from five...
E Trade Signs Big Lease at 540 Madison in Manhattan
February 8, 2000 E Trade Group Inc. is subleasing 30,000-square-foot of retail space at 540 Madison Avenue from Callaway Golf Co., according to the New York Post.Callaway had signed a lease for the space two years ago, but...
Clarification
February 8, 2000 Two classes of mezzanine bonds from Heller Financial Commercial Mortgage Asset Corp., 2000-PH1, were not pre-sold as indicated in a Jan. 27 price-guidance table and a Jan. 27 story, "Mezzanine Classes Shine in $888.3 Mln...
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